[Moncton] Downtown Developments

[jonny golden]

Originally Posted by MonctonRad

MU has taken over property management for Ashford residential properties. I don't know how significant a news item this is, but it does make you wonder how enthusiastic Ashford remains regarding their residential portfolio. It's also interesting they have not started construction of the second Lorentz building either.

I look at their contracting MU as positive. It tells me that they're expecting to own a lot more residential units in the future, and it's simpler to have a professional property management company look after everything rental related. Ashford can then focus on development and construction. Just my 2¢ worth!

I think you're right that we won't see anything happen until next summer. One reason we haven't seen any renders could be that Ashford wants to remain flexible - especially in light of the changing economic conditions. They purchased the Assomption property 6 years ago, and it's likely that their plans have changed over time (maybe more than once). I think the picture will be more clear when they eventually release their plans to the public.

I still find it confusing that there are other developers who have confidence in the Moncton market, yet Ashford is offering rental discounts. Re the $300 discount for 12 months: How many tenants are going to have trouble when their rent goes up by $300 a month at that time? As a former landlord, this isn't something that I would have offered.

[Mud]

Originally Posted by jonny golden

I look at their contracting MU as positive. It tells me that they're expecting to own a lot more residential units in the future, and it's simpler to have a professional property management company look after everything rental related. Ashford can then focus on development and construction. Just my 2¢ worth!

I think you're right that we won't see anything happen until next summer. One reason we haven't seen any renders could be that Ashford wants to remain flexible - especially in light of the changing economic conditions. They purchased the Assomption property 6 years ago, and it's likely that their plans have changed over time (maybe more than once). I think the picture will be more clear when they eventually release their plans to the public.

I still find it confusing that there are other developers who have confidence in the Moncton market, yet Ashford is offering rental discounts. Re the $300 discount for 12 months: How many tenants are going to have trouble when their rent goes up by $300 a month at that time? As a former landlord, this isn't something that I would have offered.

Off the top of my head, it allows landlords to set a higher price from which to raise in line with the rent cap while getting people in the door at something resembling market rate, for one.

[MonctonRad]

Originally Posted by Mud

Off the top of my head, it allows landlords to set a higher price from which to raise in line with the rent cap while getting people in the door at something resembling market rate, for one.

That's a good point! This could be a loophole to avoid the rent cap going into the second year of a lease.

[jonny golden]

My thought was that they are charging the full amount up front, then rebating the discount later. Something like that would make more sense than having a big rent increase of $200-$300 monthly at some point in the future.

[new kid in town]

Was driving from the roundabout to Russ Howard and the Millennium Blvd Apartments look nice against the treeline.

[sailor734]

The idea of a discount as a way to mitigate the fixed rental increase cap would seem like a smart idea. That way in a future year if the permitted rent increase isn't enough to cover increased costs you just take the allowed increase plus reduce or end the discounts to get the rent you need.

If these "discounts" are in fact a workaround to rent control I wonder if other landlords will adopt the practice for new (or newly vacated) units?

Rent control can have unintended consequences. Because it doesn't apply to vacant units after several years it can "trap" tenants who can't afford the rent increase that would come with a move. My daughter is sort of in this situation in Vancouver. After 4-5 years in her apartment a move to a similar unit at current market rent would see her paying close to 20% more.

[OliverD]

Originally Posted by sailor734

Rent control can have unintended consequences. Because it doesn't apply to vacant units after several years it can "trap" tenants who can't afford the rent increase that would come with a move. My daughter is sort of in this situation in Vancouver. After 4-5 years in her apartment a move to a similar unit at current market rent would see her paying close to 20% more.

Yes, and it keeps people in homes that may not be appropriate for their situation – typically young families in small units, older people in larger units.

[MonctonRad]

Nice downtown drone capture from the City of Moncton Facebook page:

[MonctonRad]

New Codiac RCMP HQ - current status:


Infinity Aerials photo

[jonny golden]

Quite an upgrade from the old RCMP station on Main Street - a future development site hopefully! Have they announced when they will be moving into the new building? It must be soon.

[lirette]

Originally Posted by jonny golden

Quite an upgrade from the old RCMP station on Main Street - a future development site hopefully! Have they announced when they will be moving into the new building? It must be soon.

The latest "official" date was end of September 2025 people would start moving over there, but I heard more unofficially it will get pushed again into 2026 as it wont be ready.

[jonny golden]

Just saw this on the Remax site - the downtown Cora's business is for sale.

https://www.remax.ca/commercial/nb/moncton-real-estate/730-main-street-wp_idm73000004-28485442-lst

[Mud]

Anyone know why they've dug Westmorland back up? Was the previous work not done a year or two ago?

[MonctonRad]

Originally Posted by Mud

Anyone know why they've dug Westmorland back up? Was the previous work not done a year or two ago?

It's a very good question, but, I think it must have been planned this way. The last time, they did not install a sidewalk along the side of the courthouse, which I thought was peculiar. This was probably in anticipation of this additional work. I believe a sidewalk is being put in this time.

[josh_cat_eyes]

Originally Posted by MonctonRad

It's a very good question, but, I think it must have been planned this way. The last time, they did not install a sidewalk along the side of the courthouse, which I thought was peculiar. This was probably in anticipation of this additional work. I believe a sidewalk is being put in this time.

If I recall, the last time the work started pretty late in the season. They basically had enough time to get the storm drain in, and elevate the road. This time i believe they'll be finishing the rest of the road.

[josh_cat_eyes]

I came up with a potential fix for the Wheeler/Causeway traffic circle. I've often thought of a fix as being very expensive with fly over ramps and what not. But what if when assumption is extended, if there is simply just two double-lane roundabouts. The first one would connect main street, wheeler and the south roundabout. The second one would come from the north roundabout, Sailsbury road, Assumption and the causeway. You could also keep the eastern rail overpass active transportation as well as a slip lane from assumption to main street. You could also connect Baig blvd directly to Sailsbury road by way of a new road that would cut through the Toyota parking lot. In exchange for that, Toyota would be given some of the land saved to expand their parking lot. Thoughts?

[MonctonRad]

Nice design. It would work, but, I have an aversion to having to go through more than one roundabout at a time.

Your design however does provide a nice solution to the Baig Blvd problem, where currently you have northbound traffic on Wheeler wanting to access Baig Blvd having to transit across the southbound lanes.

I don't know what traffic planner signed off on that particular solution, but, they should be taken out into a field and shot!!!

It also allows for a connection to the future extension of Assumption Blvd - nice touch.

Do you think the turning radius of your roundabouts would be too tight for large trucks and RVs???

[josh_cat_eyes]

The turning radius might be a little bit tight, but no tighter than other roundabouts in the city. I never really thought much how big they are, this is really just a proof of concept. The idea would be to implement it once the assumption extension would be built. North side would be phase one, south side would be phase 2 and the assumption extension would be phase 3.

[jnaygull]

Nice work! Reminds me of the dogbone roundabout on Harrisville Blvd. Only change I would make is to eliminate the onramp from Baig to Wheeler. If you are dumping Baig Traffic onto Salisbury Rd, then you wouldn't want/need to have them further clogging up Wheeler from Baig. Just have all Baig traffic hit the lower roundabout off Salisbury.

[Taeolas]

Looks like a very elegant solution actually. You should send it to the city as an idea.

The south roundabout should have plenty of room to be built as big as needed.

The north roundabout might be a bit tight; the city would probably need to grab some land from both Toyota and Chevrolet to get a good turn radius. Grabbing that secondary lot on Lounsbury would probably be all they really need, if the dealer could be convinced to shed that much space.